ProSiebenSat.1 Media has posted full-year earnings down €100M ($109), but its recent recovery looks set to continue with fourth quarter income up “significantly.” The German broadcast giant posted adjusted EBITDA of €578M in 2023, down nearly 15% from €678M in 2022.
This was in line with expectations in what the broadcaster called both an “economically weak” and “difficult” environment. Revenues were also down 7.5%, at €3.85B for the full year against 2022’s €4.16B.
However, as ProSieben had indicated in preliminary Q4 results last month, revenues for the quarter were up and adjusted EBITDA increased by 11% to €335M, though net income dropped from €301M to €225.
Furthermore, group net debt for 2023 declined 4% to €1.55M thanks to high cash flow intake towards the end of the year. The entertainment division, which houses its channels and streaming assets, saw external revenues fall 11% across the year to €2.57B, with a fall in advertising in German-speaking regions blamed.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.